Will SEC Close Crypto Cases?
Ripple and XRP continue to assert their legitimacy in court disputes against the US Securities and Exchange Commission (SEC). However, new lawsuits are being initiated against the crypto exchanges Kraken and Binance, prompting questions about whether the SEC might conclude ongoing proceedings or intensify its efforts.
Ripple Gaining Ground Against the SEC
In the case of Ripple, the battle with the SEC has been ongoing since late 2020. A crucial interim decision in July 2023 has shifted the momentum, with a judge determining that sales of XRP to institutional investors fall under US securities law, but sales to private investors do not. This decision provided new arguments for Ripple and XRP investors in the dispute with the SEC.
New Cases Against Kraken and Binance
Meanwhile, the SEC has opened new cases against crypto exchanges such as Kraken and Binance in 2023. Here, issues such as alleged trading of unregistered securities and mishandling of customer assets are being addressed. The industry observes these new legal battles closely, as outcomes could have significant implications.
What is the SEC Planning Regarding Ripple and XRP?
Even though Ripple has scored a notable success in court, the SEC has not backed down and continues to attempt to appeal the decision. This raises questions about whether the SEC will ultimately agree to a settlement or continue to fight full-fledged in court. In other cases, such as those of Kraken and Binance, it remains to be seen how the SEC will proceed.
Conclusion
The situation around Ripple and XRP remains tense, as the SEC seeks to maintain a strong regulatory stance but faces serious challenges in court. It remains unclear whether the SEC will ultimately close any of these cases or pursue its aggressive course. What is evident, however, is the significant impact such decisions may have on the broader crypto industry.
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